History
TR`s origins date back to 1960, when Lummus Española, S.A. was formed as a result of the association of various Spanish businessmen and the North American engineering company The Lummus Company.

In 1963 we designed and built our first complete refinery in Spain, thus beginning our focus on the oil and gas sector. In 1968 we carried out the refinery of Luján de Cuyo (Argentina) for Yacimientos Petrolíferos Fiscales, SA (YPF), our first turnkey project abroad.

In 1971, in order to develop the engineering of power plants (both nuclear and thermal) and to take part in the national power development, we participated, together with Ghesa and Eptisa, in the creation of Empresarios Agrupados. After acquiring Eptisa’s 25% participation in 1996, today TR holds 43% of Empresarios Agrupados. Through our participation in Empresarios Agrupados, we have participated in a large number of power projects and in particular, completed the design of the majority of the Spanish nuclear power facilities.

In 1972, Lummus Española, S.A. merged with Tecniresa (the former Técnicas Reunidas, S.A.) and adopted their name and thus became known as Técnicas Reunidas, S.A.

During the 1980s, we began pursuing large projects in the international markets. At that time, we already had broad experience acquired over 20 years in the domestic Spanish market. This, together with our high level of technology and extensive list of references, placed us in a favored position to undertake large international turnkey projects such as the award in 1981 for the Hydrocracking Complex for Pertamina in Dumai, Indonesia, worth approximately 1,400 MM USD.

This international experience during the 1980s brought with it a significant improvement in our commercial capability and capacity for overall management of projects and construction. This gave us sufficient know-how to also be able to compete in other growth markets such as Latin America, the Middle East and Northern Africa, among others.

In 1988, we were awarded a contract to build a petrochemical plant in Fushun (China) for Sinopec, one of the largest Chinese oil companies, which was the first of the more than 20 projects undertaken to date in China. Today, due to our extensive experience in China spanning over 20 years, we have cooperation agreements with some of the most important Chinese companies. An example is the stable relationship with Sinopec, for which we develop training programs for Sinopec`s personnel in our offices in Madrid, and cooperate in the presentation of joint bids and execution of projects, for work in both China and other countries.

In 1990, we entered into our first contract with General Electric Plastics for the construction of a compounding plant located in what has become the key petrochemical complex of the General Electric group in Cartagena, Spain. Since then, we have headed up the implementation of all projects that General Electric Plastics has made in Cartagena, including the investments in two polycarbonate plants (Lexan I and Lexan II).

At the end of the 1990s we began to establish our reputation as a contractor for combined cycle plants in Spain. Since contracting for the first two turnkey projects for combined cycle plants for Endesa and Gas Natural in 1999, we have participated in 15 combined cycle plants in Spain totaling 8,380 MW of installed power.

Our growth in the oil and gas production sector began in 2000 with the acquisition of the industrial plants unit at Initec. In addition, we acquired Initec`s infrastructure unit in 2000, which allowed us to increase our participation in domestic projects for air and land transportation infrastructure, hydraulic works, buildings and many water treatment facilities, such as desalinisation plants, waterworks and sewage treatment plants.

The first of the eight contracts to date with the Chilean national oil company (Enap) was signed in 2002, and, since then, our operations office in Chile has been increasing its resources, to the point that it now has over 100 professionals. Also in 2002, we contracted for our second turnkey refinery project for the Turkish national refining company Tüpras. Today, we are in the construction phase of this project, and we are in the engineering phase of the third consecutive turnkey contract for this customer.

In 2003, we won the contract for the Yanbu hydrotreatment complex for Saudi Aramco, the Saudi national company that has the largest crude reserves in the world. The project, which has entered the startup phase, was the first of the four we are currently undertaking for this company in both the refining and petrochemical division and the upstream and natural gas division.

Following our first contract in the Persian Gulf region, we secured additional contracts in the area in countries such as Kuwait and Oman for the construction of facilities to process oil and gas. Currently, through our participation in the Omani company Granherne & LLC, we have a strong position in the region and an office with more than 100 professionals to manage our projects in the area.

In 2003, we won three new contracts in the refining and petrochemical division in China. Two of these contracts were for large petrochemical complexes promoted by associations of multinational companies and Chinese companies (Shell with Cnooc for the Nanhai project and BASF with Sinopec for the Nanjing project). The third project was for the supply of a license, design and a technology package from us for the nitric acid unit included within the large complex developed by BASF in Shanghai.

In 2004, the Damietta natural gas liquefaction plant was inaugurated for Segas (with an interest held by the Unión Fenosa group), the highest capacity single train liquefaction project in the world, with US$1 billion of investment.

During 2005 we significantly increased the rate of contracting in all sectors of our business, principally in oil and gas. Examples of the most recent "turnkey" projects obtained are the two contracts for the Mexican state company Pemex for the expansion and improvement of its Minatitlán refinery, the construction of the first refinery in Vietnam for Petrovietnam.

Of special importance is the contract awarded in 2006 for the Rabigh refinery for Saudi Aramco and Sumitomo in Saudi Arabia for more than €1 billion, for which we act as the sole contractor. The latter project in particular has contributed to our positioning in the Middle East.

On June 21st, 2006 TR went public, and two years after its IPO, TR entered the IBEX 35 positioned as one of the 35 reference companies in the Spanish stock exchange.

In 2007 and 2008, TR continued its spectacular growth with major project awards in Refining for Portugal for Galp, in Russia for Alliance Oil Company and in Greece for Hellenic Oil Company. In Petrochemical, TR won the U&O project for Borouge in UAE and the Saudi Kayan Phenolics project in Saudi Arabia. In Upstream and Gas, a major highlight was the award of the ADOC Field Development project again in UAE rounding out a highly successful period for TR.

2009 saw continued growth with repeat client Saudi Aramco for the project award for the Jubail Export refinery of which TR won the largest package of the mega refinery.

In the first quarter of 2010, TR was awarded two major projects for the expansion of the Petroperú’s Talara refinery and the revamping of the Tupras’ refinery in Izmit (Turkey). In the second quarter, TR won another middle eastern project in Saudi Arabia for the Coking unit in the Yanbu Refinery. In the third quarter, TR registered a new record backlog of € 6302 million.

In 2010, TR celebrates 50 years of operations with unbeatable results that are among the ten reference worldwide engineering companies with LSTK major projects in Saudi Arabia, UAE, Oman, Algeria, Kuwait, Turkey, Russia, Vietnam, Chile, Greece, Mexico, Portugal, France, Holland and Spain, among others.

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